Buying your first home is an exciting time! Did you know that the Australian Government has two new initiatives that support first home buyers? These are the First Home Loan Deposit Scheme (FHLDS) and the First Home Super Saver (FHSS) scheme. First Home Loan Deposit Scheme (FHLDS)What is it? FHLDS helps first home buyers purchase a home sooner by providing a guarantee allowing those on low and middle incomes to buy a house with as little as 5% deposit (lender’s criteria apply).​Who is eligible? Singles and couples that meet the following key checks: an income test, a prior property owner test, a minimum age test, a deposit requirement, and an owner-occupier requirement. Get in touch soon so we can check if you meet the criteria.First Home Super Saver (FHSS) SchemeWhat is it? FHSS allows you to make voluntary before-tax and after-tax contributions into your super fund to save for your first home. Eligible candidates can then access these contributions and associated earnings to buy their first home. As of July 2019, there have been changes to the scheme, including only applying to buy your first home in Australia, compared to the previous version that applies to any location. Who is eligible? First home buyers who live in the premises they are buying or intend to live there as soon as practicable; and who intend to live in the property for at least six months within the first 12 months they own it. The buyer also must have never owned a property in Australia and have not previously requested a FHSS release authority.Get in touch today to learn more about these schemes and explore opportunities suitable for you. I can provide details on how each scheme works, the ins and outs, and the pros and cons that apply to your current situation.